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Labor Temple Association INC

Not tax-deductible

Minneapolis, MN501(c)(5)EmploymentEIN 04-3591672

The association's main activity is to own "labor temples or buildings for the use and benefit of its member labor organizations or associations of employees. The association is the sole stockholder of the labor temple association real estate holdings, INC., a 501(c)(2)organization which holds title to the association's real property.

$21K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $33K a year · 39% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$21K
to officers and key staff · 30% of spending
Top officer’s pay lower than 79% of similar orgs
Worth a look: pay to officers and key staff is 30% of spending; over 20%.
Pt VII · Sec A
Cash reserves
119 mo
of spending, in cash
Looks good: 119.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
0.04% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 11 voting members
Concern: none of 11 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$218K
+219% vs prior year
Spent
$69K
Net assets
$5.5M
By yearFY2020–FY2024
Revenue
$218K
FY2024▲ +219%
Revenue by fiscal year
FY2020$68K
FY2021$23K
FY2022$43K
FY2023$68K
FY2024$218K
Expenses
$69K
FY2024▲ +28%
Expenses by fiscal year
FY2020$47K
FY2021$41K
FY2022$45K
FY2023$54K
FY2024$69K
Net assets
$5.5M
FY2024▲ +3%
Net assets by fiscal year
FY2020$5.3M
FY2021$5.3M
FY2022$5.3M
FY2023$5.3M
FY2024$5.5M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

11 people listed on the 990; $21K paid to officers and key staff.

Part VII, Section A · reportable compensation
$10,400Pt VII · Sec A
David Schutta
Secretary/Treasurer
$10,400Pt VII · Sec A
Tim House
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Rod Dolan
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Conroy
Director
$0Pt VII · Sec A
Brian Burg
Director
$0Pt VII · Sec A

Russel Scherber’s $10K as President is at the 21st percentile of top reported officer pay among 1216 $100K–1M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Russel Scherber$10,400$10,400$10,400$11,050$11,050
Ray Waldron———$6,800$11,050
David Schutta$10,400$10,400$10,400——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Labor Temple Association INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Owns and manages buildings for member labor organizations.

Provided by the organization

This section is blank until Labor Temple Association INC claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

The fund leased 40 units and provided facilities, meeting and office space for the benefit of labor organizations.

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$218K
Ln 12
Other incomeLn 4–11$159K
Investment incomeLn 3$59K
Money outPt IX
$69K
Ln 25
Owns and owesPt X
$5.5M
net assets · Ln 32
Cash and savingsLn 1–2$681K
Total assetsLn 16$5.5M
LiabilitiesLn 26$2K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a11
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$59K
Other incomeLn 4–11$159K
Total revenueLn 12$218K
Assets in detailPt X, end of year
CashLn 1$383K
SavingsLn 2$298K
Cash and savings togetherLn 1–2$681K
InvestmentsLn 11–13$4.4M
Other assetsLn 15$402K
Total assetsLn 16$5.5M
LiabilitiesLn 26$2K
Net assetsLn 32$5.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$665K$681K
InvestmentsLn 11–13$4.4M$4.4M
Total assetsLn 16$5.3M$5.5M
LiabilitiesLn 26$2K$2K
Net assetsLn 32$5.3M$5.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$21K
Payroll taxesLn 10$2K
Accounting feesLn 11c$42K
Investment management feesLn 11f$640
Office expensesLn 13$2K
Total functional expensesLn 25$69K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $218K$69K$149K$5.5M 990 PDF
FY2023 $68K$54K$15K$5.3M 990 PDF
FY2022 $43K$45K−$2K$5.3M 990 PDF
FY2021 $23K$41K−$18K$5.3M 990 PDF
FY2020 $68K$47K$21K$5.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $217,728 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $58,581$58,581
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $159,147$159,147
VIII-12 Total revenueRelated to mission $159,147 · Unrelated business $0 · Excluded from tax $58,581$217,728
Part IX · Statement of functional expenses $68,640 across 5 lines filed
IX-5 Pay of current officers, directors and key staff$20,800
IX-10 Payroll taxes$2,213
IX-11c Accounting fees$42,494
IX-11f Investment management fees$640
IX-13 Office expenses$2,493
IX-25 Total functional expenses$68,640
Part X · Balance sheet $5,465,103 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $412,747$383,196
X-2 Savings and temporary cash investmentsStart of year $252,000$298,000
X-11 Publicly traded securitiesStart of year $155,289$128,781
X-12 Other securitiesStart of year $889,795$889,795
X-13 Program-related investmentsStart of year $3,362,913$3,362,913
X-15 Other assetsStart of year $243,271$402,418
X-16 Total assetsStart of year $5,316,015$5,465,103
X-17 Accounts payable and accrued expensesStart of year $2,320$2,320
X-26 Total liabilitiesStart of year $2,320$2,320
X-27 Net assets without donor restrictionsStart of year $5,313,695$5,462,783
X-32 Total net assets or fund balancesStart of year $5,313,695$5,462,783
X-33 Total liabilities and net assetsStart of year $5,316,015$5,465,103
Part XI · Reconciliation of net assets $5,462,783 net assets at year end
XI-1 Total revenue$217,728
XI-2 Total expenses$68,640
XI-3 Revenue less expenses$149,088
XI-4 Net assets at start of year$5,313,695
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,462,783

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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